Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1887-03-26
THE STATE OF TRADE.
The Interstate Commerce Law Still Stir
ring the Markets.

]
ring the Markets.
New YORK, March 25.-R. G. Dun &
Co., in their weekly trade review, say
April is close at hand and some anxiety as
to the money market is unusual at this
season. Banks have been ending large
amounts to the interior through deposits
at the treasury, and issues of silver certiti-
Gates elsewhere, and there has also been
heavy demand for philadelphia ex-
change, so that a further de-
cline in reserves is expected. Western and
Southern demand for money has been in
tensi6ed by desire to ship products before
the Interstate change rates 80 into effect.
Though the demand at Chicago is reported
diminishing, rates are 6@9 per cent. All
circumstances make it comparatively easy
for the operator to produce tight money if
he pleases. The treasury has taken In
81, 100, 900 more gold than it has paid out
during the past week, but has added three
million to outstanding silver certificates
and put out some legal tenders also.
The reduction of rates by the
Bank of England and abundance
Of money there favor continued
ease in this market as does the later for
eign trade, exports from New York for
three weeks being l5 per cent larger than
last year, with imports q per cent larger.
The February official report shows All In
= 90
year the amount being the largest since
1855, but imports were largest on record
for many years in February and the excess
of imports was S4,2l4, ,357, gold exports
for the month exceeding the imports by
81, 533; 766. Railroad business has been
large. Shipments from the chief East
ern cities were 4,160 tons
in February against 1880 last
year, but east-bound tonnage was al, $50
tons, against Sj6, 2i5 tons last year.
Temporary activity in March does not
indicate larger business after the change
of rates, however, nor is the building Of
Gle miles of road against 296 to date last
year 4 safe indication to the future.
Reports regarding the iron business are
not favorable. Imports are evidently hav-
ing depressing effect. 1t would not be
strange ii reaction should soon begin. The
rise which began in 1871 lasted month;
the rise which began in 1873 lasted IL
months; the rise which began in 1885
has now lasted about Is months. The
volume of legitimate business is large and
increasing as exchanges and tonnage show.
Oil speculation suffers from pending bills
in Ohio and Pennsylvania. Pork products
have reacted little. Wool is low, the de-
mand for goods being slack. Wheat has
declined one cent, corn about One-half
cent and oats shade with unusually small
sales and large receipts. Cotton has ad-
vanced quarter and coffee half cent and
beef is stronger but prevailing uncertainty
affects most branches of business untavOr-
ably except as transactions are fastened to
make shipments by rail before the change
in rates and expiration of contracts. Busi-
ness failures for the past seven days num-
Der for the United States 2ls, for Canada
II, total 259 against 22O last week and
POI for the corresponding week last year.
The casualties this week are considerably
above the average in the Southern States
and in Canada. In New York city there
were 10 failures; in the New England
States "a, and in the Middle States 40.